How would you vote on TARP? (user search)
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  How would you vote on TARP? (search mode)
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Poll
Question: ?
#1
Aye (D)
 
#2
Nay (D)
 
#3
Aye (R)
 
#4
Nay (R)
 
#5
Aye (I/O)
 
#6
Nay (I/O)
 
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Partisan results

Total Voters: 41

Author Topic: How would you vote on TARP?  (Read 1513 times)
Hydera
Jr. Member
***
Posts: 1,545


« on: February 20, 2017, 06:51:15 PM »
« edited: February 20, 2017, 07:04:52 PM by ( ͡° ͜ʖ ͡°) »

It prevented the economy from collapsing further. I thought TARP was a bad idea at the time. But when i read more into it, the more sense it made because there was no way that if the financial insitutions collapsed further then somehow a quicker economic rebound would happen just like some claim if only TARP was voted down.  Also the TARP money was paid back in full by 2012.
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Hydera
Jr. Member
***
Posts: 1,545


« Reply #1 on: February 20, 2017, 07:29:16 PM »
« Edited: February 20, 2017, 07:31:38 PM by ( ͡° ͜ʖ ͡°) »

It prevented the economy from collapsing further. I thought TARP was a bad idea at the time. But when i read more into it, the more sense it made because there was no way that if the financial insitutions collapsed further then somehow a quicker economic rebound would happen just like some claim if only TARP was voted down.  Also the TARP money was paid back in full by 2012.

-None of this is true. TARP didn't prevent the economy from collapsing further (the recession only ended in mid-2009), the risk of financial collapse was massively overblown, and the TARP money was not paid back in full by 2012.


http://www.politifact.com/new-hampshire/statements/2012/oct/25/barack-obama/barack-obama-says-banks-paid-back-all-federal-bail/

Also we already tried the let-the-economy-fix-itself libertarian approach in 1928. And by the time Hoover took action it was already too late and unemployment reached up to 25%.
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